Blog: Where are the new BRICs?
Joe Ayling | 10 September 2010
Civets, the "small, lithe-bodied, mostly arboreal mammals native to the tropics of Africa and Asia", or so you thought.
As outlined by a comment piece on just-style today (10 September) the CIVETS are also an acronym for a new series of emerging markets.
For the past nine years it had been BRICs that excited expanding fashion brands, with Brazil, Russia, India and China leading the charge in terms of GDP growth and potential for organised retail. They still do, but their 'noisy neighbours' now make up the word CIVETS, and include Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa.
Investment bank Goldman Sachs dreamed up the acronym BRICs, while HSBC and The Economist Intelligence Unit are tussling for credit when it comes to CIVETS.
The phrase is taking a little time to sink in on the just-style newsdesk. But just like 'BRICs' sparked visions of solidarity and bricks and mortar, there's something quite intriguing about the CIVETS.
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